Categories
Tech

$AMZN : Amazon forming a doji?

It seems like $AMZN is forming a doji.

On the Ichimoku chart, $AMZN is trading above the kumo with a fairly strong Tenkan sen.

It is likely to find support at around $239 and $231.

It needs to break the kumo support at around $225 to $220 for a short.

Categories
Tech

$AMZN . May break kumo support. Bearish.

AMZN dropped to around $172 after its poor earnings back in early Feb.

It has since try to rally but fail to breakout of the kumo resistance.

It is now trading around $182 and is very near the kumo support.

Right above it is both the resistance from Tenkan sen and Kijun sen.

I believe this is a fairly good entry to try to get a short and see if it fell below the kumo support.

Target price $172.

Categories
Tech

$AAPL, $AMZN, $IBM, $BIDU : 4 stocks above kumo

 

 

There are definitely more than 4 stocks that still looks bullish on the Ichimoku charts.

However, my favourites are :

 

 

 

 

I have chosen them for the following reasons:

1. They have cash.

2. They are market leaders within their segment

3. Pricing power and economies of scale.

4. Technically on the Ichimoku charts, they are still on top of the kumo support or above the kumo; which are bullish signs.

For $BIDU, we could easily substitute it with $GOOG. In my case, I want a proxy for the China market and in this case $GOOG fails the test.

Both $AAPL and $AMZN are extending their revenue beyond their core. In $AAPL case, the apps revenue and ads revenue will increasingly adds on and even be much more than its hardware sales.

In $AMZN, the cloud computing platform which they are offering will see increasing value as they target entreprise customers in the likes of brokerages etc.